A Chest is a piece of Furniture that can be placed and used for public storage. They can hold a maximum of 40 stacks of items at one time. You can collect empty Chests with a standard pickaxe , while Chests with any items in them are completely unbreakable. Chests can be placed on Wood Platforms. Chests can be found in most Biomes.

Trivia

There is a cap of 1000 Chests that can be in a World. This includes Gold and Shadow Chests.

Bugs

If you place a chest on Ice spawned by the Ice Rod, place anything in it and leave and reenter the world, you can duplicate any Chest endlessly.

When swinging a 'Very Slow Speed' Sword like Fiery Greatsword and opening a Chest before the swing ends with autopause on you won't be able to obtain the first item in the Chest.

Chests with an item in them and the ground under them cannot be destroyed, but if a chest with an item is placed on an Active Stone Block, toggling the blocks will make it rain 3 - 5 chests (version 1.1.2). The chest will remain suspended in midair on an Inactive Stone Block; this is probably the only way to have a chest that you can't stand on. This bug was fixed in 1.2

On Mobile, sometimes if armor is moved from a chest directly onto the player, the armor disappears completely. (Android v1.02)